tv Cashin In FOX News January 11, 2014 8:30am-9:01am PST
federal reserve has essentially done is over the last five years made it very easy for big companies to access capital and very hard for small companies and start up, which those companies are actually the job creators. >> that's it for "forbes on fox." keep it right here. "cashin' in" is next. mirror, mirror on the is obama making america fall. president o. played the blame game. are his policies the reason so many people are struggling? and then, skiing. curling and health care. white house planning an olympic sized obamacare push during the winter games next month. a majority of americans want obamacare repealed. should uncle sam get a gold medal for wasting your money. plus. >> i come out here today to apologize to the people of new jersey. >> a bridge to controversy, the
mainstream media wasting no time ripping new jersey's republican governor chris christie for traffic be troubles created by his staff. why this has media bias written all over it. "cashin' in," your bridge to freedom starts right now. hi, everyone. welcome to "cashin' in." our crew this week, wayne rogers, michele fields. the commander-in-chief is back fresh off a two week hawaiian vacation. coming back on a taxpayer's dime. first thing he does is wage war on income in equality. >> we have to do more to make sure all americans share in that growth. >> michele. nice two weeks away vacation and now income in equality. that's the big push? >> income in equality is not a disease. it's a symptom. if obama wants to know what the disease is all he has to do is look to his policies because it's his economic policies that are creating more economic
inequality. i think it's ironic he's talking about inequality after he returned from a $4 million 17 day vacation in hawaii. if we're on the subject of inequality can we talk about why it's fair he goes to hawaii and i can't? that to me is vacation inequality. >> bob you and i didn't go to hawaii. the president and first family was in hawaii enjoying a nice taxpayer vacation. >> any president that hasn't gone on vacation? >> i'm pretty sure -- >> is that the best you got. >> i haven't heard a president come back from vacation, first topic is income in equality gap. >> he's right about that. i don't know how you could possibly deny. it's interesting when income in equality was this desperate as it is now in the late 1800s toledo recession. in 1920s toledo depression. late '90s and early 2000 led to recession and great recession,
all was when income in equality was at its peak. >> even though there's income in equality when the rising tide is floating all boats. the left says there's such hatred of success that they say let's tamper that down. >> think what obama is advocating here. not equality of rights but equality of outcomes. we're all the same. we're not all the same. the only way obama can make us the same is by cutting down the all the poppies, the achievers. steve bob's, bill gates. you don't help anybody redistributing to those who haven't produced by taking it from those who have. >> in 1964 when this war upon university started over the years, in the 50 years since that war begun or we began a war in poverty, poverty level hasn't
budgeted. it started 15% or 16%. here we are $15 trillion later and guess what? it's still 15%. >> well, it's not only that, eric. the president has been there for five years and the unemployment rate is still 6.7%. in other words none of these policies worked. all of this keynesian theory if we put money back into the economy on behalf of the federal government will help everybody is trash. nobody has read milton freeman or hyatt. these are people who are ignorant for the most part about economic theory. so as a consequence they buy into this and like the president has done and the results are disastrous. of course it's going to be inequality. you can't have a degree in rocket science and think you're going to have the same equality level as a guy who has never gone to school. >> that's not what he's asking
for. the difference between the person who works on the factory floor a and the ceos used to be about 60-1 now it's about 800-1. most of the money goes the haves of this country. i know you can't help yourself, i know you have a problem about being silent but give me one second and i'll shut up. the fact of the matter all this wealth is being concentrated in the hands of very wealthy people. it's not circulating in the economy. it's in bonds and stocks. >> it's not inequality. >> let me respond. bonds and stocks for one thing are part of economy. when the rich earn money they invest in the economy to create jobs. >> where? >> if the ceo is making $700 million someone is paying their salary and in a free economy shareholders, someone is actually paying that salary. if the government is not paying it, it's being earned in a free
market and that's what you and the president are against. >> tell me how stocks and bonds are helping the economy. >> they are, bob. as money is earned, even if it's earned by the wealthy it's reinvested in the form of new products. >> stocks, bonds? mortgage backed securities? all those great things doesn't circulate the economy at all. >> that's how the free market work. as you earn more money you expand your business. >> go ahead. >> look, i think what we ought to be doing is reducing the regulatory burden on entrepreneurs because then they will open new businesses and expand existing ones and create jobs. we need to expand more turns. it's not a problem with inequality there's a problem with growth and not enough jobs. >> regulations on big banks? >> something happened this week that's very interesting. president obama announced a proposal, he wants to create five promise zones across the country. we have a map of them.
here's tissue. he will lower tax, reduce regulatory burdens. if that works in five promise zones why wouldn't that work for the whole country >> america is supposed to be the promise zone. obama should be focusing on equality of freedom not economy. >> wayne, what about it? how about making america a promise zone? >> well, touqueville wrote americans are nor enamored of freedom than equality. everybody doesn't have to be equal. why do we have this persistent that everybody has to be equal. it destroys everybody to do anything else. >> fit works in five zones
lowering taxes, lower regulation and that's supposed to stimulate economic activity, listen i got news. i'll be his economic adviser and say president obama let's do it for everybody. >> let me say jonathan wallowing in misery, breaks my heart. i have a crying towel. the point is here that if you get -- when you talk about what the president talked about in his promise zones the only way you'll attract businesses in is to do that thing. >> you just said the most important thing, the only way -- >> he's make urge point for your. >> is by doing these things, lowering the taxes. why not making the federal income the corporate business rate lower? it's 35%, make it 15%. >> why? >> your own argument. >> no. my argument is talking about places with unemployment rates up to 25%. you want to do it here in new york.
>> do it every where. >> how about goldman sachs have no regulations. >> go ahead, michele. >> all bob wants to do is soak the rich of their money. what we should be doing is reducing taxes for everyone, reduce the regulatory burden. it's not about stealing from the rich and redistributing it. >> think about it in basketball terms. if you want everybody equal in a basketball league, cut off lebron james legs, take the achievers and brings everybody down to everybody's levels. it's a war not just on the wealthy but on the most productive. >> basketball game becomes less interesting to watch. wayne one last word. >> i was going to say to bob's credit, he talked earlier about the banks. the banking system as we know is concentrated wealth and practically five banks control most of the banks in the united states.
that's not the problem that was created. that was created by congress and president himself. they allow this to happen. that's why these things happen because people allowed them to happen instead of fighting against it and fighting for individual rights. >> we have to leave it. good discussion. coming up going for the gold, now team usa but team obamacare why some say here the white house should be getting the gold medal for wasting tax money at the upcoming winter olympics. y? see, the only thing i can think of is that you can't get any... bars. ah, that's better. it's a beautiful view. i wonder if i can see mt. rushmore from here. geico. fifteen minutes could save you fifteen percent or more on car insurance. is a really big deal.u
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break out the bobsled, obamacare is heading to the olympics this week. the obama administration announcing plans to run tv ads during the winter games encouraging people to quote enroll and get covered. they haven't released how much the ads will cost but annual spending to plot the health care law is estimated at $684 million. jonathan, money well spent? >> well when the government
advertising for the military, eric that's okay. that's moral because the military is actually a constitutional part of government. but the government advertising for obamacare is propaganda. it's using taxpayer money to try to promote more government force and convince people your loss of freedom is okay. that's a normal fact of life. it's not and should be stopped. >> more than half of americans think the obamacare law should be repealed but we'll spend how many millions of dollars to advertise at the olympics. >> why should government be spending any money to advertise any law? that's insanity. should they advertise laws oh, by the way there's a stop sign on the corner everybody should stop. they are spending taxpayer money to do this? this is insanity. i can't believe they would do this. when you are saying they are spending known advertise a law that congress has passed, it doesn't make any sense at all. jonathan is right.
>> bob, how could can it be if they have to advertise. >> i wonder if wayne's makeup artist had that view as well. i'm curious. sorry, wayne, i had to get that in. look, the reality is -- >> i didn't hear you so it doesn't matter. >> it was a shot bath pleasant shot. when you have 40 million you're trying to get to that's a lot of people. it's unprecedented. course they should advertise. >> you seem very serious. >> it's a waste of money. >> can we roll the video, bob partaking in some olympic activities. take a look. you want to give us a play-by-play. >> that was me going down the luge. scariest day of my life since i quit drugs and alcohol. >> it's a complete waste of money. they shouldn't have to advertise it. why not get health care reform that people actually like. look, the olympics is such an
amazing moment for americans, you know, they feel so much patriotism for their country. why does obama got to go and ruin us and show us a commercial for obamacare reminding us we have obamacare. that's a buzz kill. >> can you imagine downhill skiing, you get the guy, the pajama boy in the onesie. can we show the full screen. look what we put together. in the meantime, while we do this. >> when mcdonald's buys an ad they do with it private money to promote a product that you have a choice in buying but to wayne's point we're forced to participate in obamacare to begin with. i think to michele's points it's even more embarrassing these ads are running during the olympics because it's showcasing to the world what a totalitarian place
we were becoming. your life used to be your own. >> as opposed to coors light or dedeodorant? >> it's private money. bob, if you want to compete in the olympics that's fine. i just wish competitive eating was actually an olympic sport. >> wayne, you want to get in? >> ouch! >> just as an aside in 1988 i made a movie for paramount about the olympics and i went down the luge and it's scary. bob would not weigh 50 pounds if he went down the real run, believe me. >> you went down a real run? >> we're going to get a video of that. coming up a traffic jam gone wild? the mainstream media having a field day with the controversy surrounding new jersey's republican governor chris christie. a bridge is a big deal but the
irs scandal and benghazi not so much. can you say double standard? fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. visit truecar.comoney,com,t and never overpay.yer's remorse. a good deal or not. "okay, this is the price,"sman comes and you're like.ells you,
hello everybody. i'm uma pam raj in washington. no water to drink, bathe or cook with for 300,000 people in and around charleston, west virginia as health officials try to figure out how dangerous the water conditions are. federal investigators are stepping in to investigate a chemical leak there. we'll have a live report at the top of the hour. a leader who dedicated his life to the state of israel.
president obama used those words to describe the israeli prime minister, ariel sharon, who died. a look at sharon's live and legacy at the top of the hour. the former head of the homeland security will weigh in on robert gates' controversial new bookmaking waves at the white house and around the country. all that and much more coming to you on america's news headquarters. join us. a media frenzy over the chris christie bridge controversy. >> calls at this hour for defense to step in. >> firestorm brewing around new jersey governor chris christie. the focus is the george washington bridge. >> a traffic jam derail his white house hopes? >> scandal surrounding the new jersey governor, chris christie. >> president obama and his former secretary of state hillary clinton in the hot seat over their foreign policy flap this week. apparently the mainstream media
thinks the traffic jam is more important. bob, double standard here or what? >> no. because i don't think that the flap that you talk about is such a big deal. the gates book. leaving that aside, you know anything about christie, in his press conference, give him credit for that. the fact of the matter is. if you're the chief executive of the state where the most important artery is backed up and a lot of complaints coming in and the only people he asks about it are his staff, he used to prosecute bad politicians. he didn't take their word for it. >> christie did a good job defusing the animosity and what was going on. assuming, assuming he's not lying about any of it. if there's one name with chris christie copied on, one e-mail, one memo, it's going to be big trouble. your thoughts on the media's treatment of chris christie. let's say benghazi where there are four dead americans versus four-hour traffic jams. >> they've spent more time on it. we know the press is
prejudicially democratic. they'll attack christie in any case. they let hillary off the hook in benghazi, on file gate. they let her off the hook in whitewater. this is a lying, cheating woman who has more ambition to be the president of the united states than anything else. as a consequence of the press who is sucked in by this, by their own blindness, you know, is sucked in by this is going to make a big thing about him and the traffic which has nothing to do with how -- by the way, they knocked rumsfeld for -- when he was secretary of defense. he went down to the congress and said, i take responsibility for abu ghraib. because i'm the secretary of defense. >> john and michelle, very quickly. michelle, you're on deck. >> for one thing, this never happened had the roads been privatized which we've been talking about for a long time. i think christie's scandal is potentially criminal as with all the democratic scandals. i think the reason for the double standard in the media is
that obama is seen as an all truist. he's sacrificing for student loa loans. >> michelle? >> double standard, absolutely. the top networks have dedicated 17 times more coverage to this than they did the last -- the past six months on the irs scandal. let me just say, christie came out and fired the woman. obama, he didn't even fire lois lerner. he allowed her to go on paid leave. >> you're 100% right, michelle. thank you to michelle and bob. happy birthday, michelle fields. coming up. >> thank you. >> we made this congressman an offer he couldn't refuse. but he did refuse. is his stance on the nsa putting your privacy at risk and viol e violating your constitutional rights? joe doesn't know it yet, t he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game om the great northwest. he'll stt investing early,
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chart. recovering economy, this is going to do very well. >> john, yours quick? >> i'm building a position in base metals like nickel. nini is an exchange traded note tied to nickel price is. i like it at these levels. >> very good. that's it for the cost of freedom block. thanks for joining us. before we go, last week senator rand paul, a good friend of this program announced he was suing president obama over his nsa policies that prompted representative peter king to say this. >> we listen to rand paul and follow his policies, americans could die. maybe it wouldn't bother him. i don't know. >> we tried to get representative king on cashin' in to talk about the outrageous remarks. all week he dodged us and made excuses. we think mr. king owes senator rand paul an apology. representative king, we extend an open invite to you to join us at your convenience. in the meantime, i'm giving you a homework assignment.
i'm sending a copy of the constitution and i'll underline the fourth amendmentment. like cliff notes for dummies. by the way, you swore to uphold this so many years ago. see you at 5:00. have a great weekend everybody. hello shall. i'm uma pemmaraju live from washington. we begin with two major news stories at this hour. one happening here at home. the other thousands of miles away overseas. a state of emergency in west virginia as thousands of people struggle another day without water for drinking, bathing or cooking. it's been three days since a chemical spill near charleston forced food and businesses to shut down and left residents scrambling where bottled water is in short supply. as of now, no word on when it will be declared safe enough to use. a live report from west virginia coming your way in just a fe